Incorrect. More correct would be: the dominant modern left-wing view is that there exists now in much of the world, and has historically, a systematic structural power imbalances between groups identified as “races”, that this disproportionately harms some of those groups, and that this is bad thing.

That the confluence of all those things is the proper referent of the label “racism” rather than that label referring to racial bias which is a component of all that is far more controversial even within the left.

> For example, divesting from your neighborhood out of concern for your property value when PoC start to move in does not necessarily reflect an individual racial bias. It could be a purely rational economic calculation based on other people’s biases. It’s still the bread and butter of the system of racism.

Uh, yes, because it's a product of someone's racial biases, it's still a part of systemic racism even by the simpler and more common definition of racism, because its a product of racial biases within the social system.